Financial sector in Singapore

Bibliography

Hew, D. 2005. Singapore as a Regional Financial Center. In Capital Markets in Asia: Changing Roles for Economic Development, edited by D. Vandenbrink and D. Hew. Singapore: Institute of South East Asian Studies.

MAS, 2004. Objectives and Principles of Financial Supervision in Singapore, Singapore: Monetary Authority of Singapore.

MAS, 2014. 2014 Singapore Asset Management Survey, Singapore: Monetary Authority of Singapore.

MAS, 2015a. Monetary Authority of Singapore Annual Report 2014/15, Singapore: Monetary Authority of Singapore.

MAS, 2015b. Singapore Corporate Debt Market Development 2015, Singapore: Monetary Authority of Singapore.

Ong, C.T. 2003. Singapore’s Policy of Non-Internationalisation of the Singapore Dollar and the Asian Dollar Market. In China’s Capital Account Liberalisation: International Perspective, BIS Papers No. 15.pp. 93-98


Yeandle, M. 2016. The Global Financial Centres 19. Z/Yen Group Limited, March 2016.
http://www.longfinance.net/global-financial-centre-index-19/992-gfci-19.html
ⁱ Please refer to the Financial Directory at MASNET. (https://masnetsvc.mas.gov.sg/FID.html)


ⁱⁱAs recorded by the Singapore Foreign Exchange Market Committee Surveyof Singapore Foreign Exchange Volume April 2016. (http://www.sfemc.org/statistics/SFEMCFXSurveyApr16.pdf)



SMU Classification: Restricted


ⁱⁱⁱ Both the Suzhou Industrial Park and Tianjin Eco-City are bilateral, national-level projects between Singapore and China.


^ivOver the years, the ADM developed to include foreign exchange and derivatives, foreign securities, loan syndication and bond issuance activities, see MAS’ 30^th Anniversary Commemorative Booklet, MAS: 30 Years of Central Banking Excellence.


^v MAS has recently rationalized the regulatory framework that distinguished domestic versus international banking operations, citing market developments and global regulatory changes over the last half decade. See keynote address by Deputy Prime Minister TharmanShanmugaratnam at the Association of Banks in Singapore on 30 June 2015. Available athttp://www.mas.gov.sg/news-and-publications/speeches-and- monetary-policy-statements/speeches/2015/keynote-address-by-dpm-at-abs-annual-dinner.aspx


^viFor greater clarity on the distinction, please see
http://www.mas.gov.sg/fin_development/fin_sec/banking/Asian_Currency_and_Domestic
_Banking_Units.html

7. 
   The GIC is a sovereign wealth fund that manages Singapore’s foreign reserves.
   

7. 
   The CPF is a government administered compulsory savings scheme that is used for funding the
   

citizen’s housing, healthcare and retirement needs.

7. 
   This includes fixed rate issuances from high-income countries and the indices are tools for measuring performance and quantifying risk across international fixed income markets.
   

7. 
   Data on the breakdown between foreign and local listings are available up to 2010 only.
   

7. 
   See speech by then Deputy Prime Minister and Chairman of MAS Lee HsienLoongon Consolidation and Liberalization: Building World-Class Banks at the Association of Banks Annual Dinner on 29 June 2001. Available at http://www.mas.gov.sg/news-and-publications/speeches-and-monetary-policy- statements/speeches/2001/consolidation-and-liberalisation--building-world-class-banks--29-jun- 2001.aspx
   

7. 
   For instance, DBS acquired DoaHeng Bank the fourth largest bank in Hong Kong in April 2001.
   

^xiiiFinTech is an economic industry that integrates finance and technology.


^xivSee panel remarks made by MAS Managing Director Ravi Menon on Fintech– Harnessing its Power, Managing its Risks at the Singapore Economic Policy Forum held on 2 April 2016. Available at http://www.mas.gov.sg/News-and-Publications/Speeches-and-Monetary-Policy-
Statements/Speeches/2016/FinTech-Harnessing-its-Power-Managing-its-Risks.aspx


^xvSkillsFuture is a national movement to enable all Singapore citizens to develop to their fullest potential throughout life by providing a variety of resources to attain mastery of skills. For details, refer to http://www.skillsfuture.sg/


^xvi Speech by Prime Minister Lee Hsien Loong at MAS 40th Anniversary Dinner on 28 November 2011. Available at http://www.mas.gov.sg/News-and-Publications/Speeches-and-Monetary-Policy- Statements/Speeches/2011/Speech-by-PM-Lee-Hsien-Loong-at-the-MAS-40th-Anniversary-Dinner.aspx